Global markets were trading in the red on Tuesday, with the local equities market being no exception. It was hit particularly hard on the back of local factors. The JSE’s Alsi ended the day 1.4% lower, with financial services counters leading the drag. It was only gold miners that ended the day in the green.
The poor unemployment figure of 29% in the second quarter didn’t seem to move the local currency that much, with the rand trading around R14.17 against the dollar. Nompu Siziba discusses the latest market movements with Petri Redelinghuys, founder of Herenya Capital.